Manhattan Associates (NASDAQ:MANH) Stock Rating Upgraded by Wall Street Zen

Manhattan Associates (NASDAQ:MANH) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

MANH has been the subject of several other research reports. Barclays lifted their price target on Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Robert W. Baird increased their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Weiss Ratings raised Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Stifel Nicolaus boosted their price objective on Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, DA Davidson downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research note on Monday, September 28th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.33.

Manhattan Associates Stock Performance

MANH stock opened at $238.19 on Friday. The firm has a market cap of $13.89 billion, a PE ratio of 68.25 and a beta of 0.95. The firm’s fifty day moving average is $213.12 and its 200 day moving average is $172.06. Manhattan Associates has a one year low of $119.06 and a one year high of $242.63.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The company had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. Research analysts predict that Manhattan Associates will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Manhattan Associates in the 2nd quarter valued at $944,285,000. Swedbank AB boosted its stake in Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock worth $199,680,000 after purchasing an additional 300,000 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Manhattan Associates during the second quarter worth $94,049,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Manhattan Associates by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker’s stock worth $89,671,000 after buying an additional 13,128 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Manhattan Associates by 6.2% during the first quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock worth $89,247,000 after buying an additional 39,125 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.